Daimler Truck has a higher revenue thanks to strong sales and price rises
Daimler Truck Holding AG announced Friday that revenue rose in the third quarter due to strong vehicle sales and higher prices.
German manufacturer of commercial-vehicles
DTG,
said revenue rose to 13.5 billion euros ($13.78 billion) from EUR9.16 billion in last year’s third quarter. Group sales increased 27% to 134.972 units, an increase of 106.304 units from last year.
Daimler Truck explained that the strong sales, higher prices and favourable effects of exchange rates drove the increase in revenue.
“Daimler Truck sees a continued strong demand environment. The order backlog has increased compared to the prior-year level,” it said.
The adjusted earnings before interest, taxes and amortization for the three months was EUR1.27billion, an increase of EUR491m a year earlier. According to a consensus reached by the company, analysts expected EUR1.08 trillion in adjusted EBIT.
Daimler Truck stated that it expects its group revenue to range between EUR50.0 billion – EUR52.0billion and its industrial business revenue to be between EUR48 billion – EUR50billion in 2022.
It expects a 7%-9% adjusted return on sales for the Mercedes-Benz segment by 2022, an increase of 6%-8% previously anticipated.
The company expects Group EBIT (Earnings from Operations) to slightly increase over the previous year.
Write to Maitane Sardon at [email protected]
